El Salvador Continues Bitcoin Accumulation Despite IMF Pressure

El Salvador's government has made clear its unwavering commitment to Bitcoin (BTC), acquiring over 13 BTC since March 1, despite ongoing pressure from the International Monetary Fund (IMF) to halt its accumulation of the digital asset. The country’s Bitcoin strategy, championed by President Nayib Bukele, shows no sign of waning, even as Bitcoin gains greater international legitimacy.

El Salvador's Bitcoin Treasury Grows

According to the El Salvador Bitcoin Office, the country’s Bitcoin treasury now holds a total of more than 6,105 BTC, valued at over $527 million at current market prices. The country’s approach has been steady, with the government typically acquiring one Bitcoin every 24 hours. However, on March 3, El Salvador made a larger acquisition, purchasing 5 BTC in a single day.

Despite the pressure, President Bukele has remained steadfast in his belief that Bitcoin remains a crucial component of the country’s economic strategy. The consistent accumulation reflects his commitment to the asset, even as the IMF continues to challenge the government's stance.

IMF Loan Deal and Pressure to Halt Bitcoin Purchases

El Salvador’s Bitcoin strategy has been complicated by the deal it struck with the IMF in December 2024. The country secured a $1.4 billion loan from the IMF, but as part of that agreement, El Salvador agreed to repeal Bitcoin's status as legal tender and scale back its public sector involvement with cryptocurrency.

In January 2025, El Salvador's Congress amended its Bitcoin laws to comply with the IMF loan conditions, with lawmakers voting 55-2 to revoke the previous version of the law. Despite the legal changes, the government has continued to acquire Bitcoin at its usual pace, demonstrating a clear defiance of the IMF's pressure.

On February 1, the government purchased two BTC, and the regular accumulation continued. However, on March 3, the IMF escalated its stance, urging El Salvador to cease its Bitcoin purchases entirely. The IMF also imposed restrictions, forbidding the country from issuing debt or tokenized securities linked to Bitcoin.

Bukele’s Defiant Response

President Bukele responded to the IMF’s latest request with defiance, stating that El Salvador would not stop its Bitcoin accumulation. He dismissed the IMF’s pressure as “whining,” and emphasized that the country would continue its Bitcoin strategy, regardless of external criticism.

“If it didn’t stop when the world ostracized us and most 'bitcoiners' abandoned us, it won’t stop now, and it won’t stop in the future,” Bukele firmly stated. His words underscored his determination to stick with the country’s Bitcoin plan despite mounting international pressure.

El Salvador Becomes a Crypto Hub

El Salvador’s commitment to Bitcoin has led to a surge of interest from major crypto firms, which are choosing to relocate to the country in response to its supportive stance toward cryptocurrency. On January 7, Bitfinex Derivatives announced it was moving its operations from Seychelles to El Salvador. Shortly after, on January 13, stablecoin issuer Tether followed suit, relocating its headquarters to the Central American nation.

El Salvador’s unapologetic pro-Bitcoin stance has positioned it as an increasingly attractive destination for crypto businesses, further solidifying its role as a leader in the adoption of digital assets. With continued Bitcoin acquisitions and a growing crypto-friendly ecosystem, El Salvador is sending a strong message to the world about the future of cryptocurrency and its place in the global economy.